UAE Selected to Host 2029 World Bank Meetings: A Financial Hub’s Triumph

UAE Banks Federation, the sole representative and unified voice of UAE banks, reaffirmed  that the UAE selection to host World Bank Group and International Monetary Fund (IMF) Annual Meetings for 2029 in the UAE reinforces the country’s position as a global financial and economic hub, and its vital role in supporting efforts and initiatives for comprehensive and sustainable development  and financial stability at the international level.

His Excellency AbdulAziz Al-Ghurair, Chairman of UBF, said: “The selection of the UAE to host this global event affirms the international community’s confidence in UAE’s position and its ability to lead such global dialogues. With its advanced infrastructure, organisational capabilities, and expertise in organising global events, as well as its financial and economic policies, the UAE has established itself as a leading economic and financial hub globally”.

H.E. Al-Ghurair added: “Over the past few years, the UAE has been able to develop a stable and resilient economic environment, and balanced fiscal and monetary policies. The financial and banking sector is a key pillar in achieving the country’s strategic objectives and sustainable development goals. We are proud that the UAE is the only country in the Middle East and Africa to be selected to host this meeting, which is held every three years outside the headquarters of the World Bank and the International Monetary Fund, for the second time since Dubai hosted this meeting in 2003. We are committed to working with strategic partners and member banks, under the direct supervision of Central Bank of the UAE, to support all efforts related to these meetings in line with UAE’s position as a leading destination in organising events and leading constructive dialogues to develop economic and financial policies.”

H.E. Al-Ghurair pointed out that this selection of the UAE comes in addition to many important events in the financial and banking field which the UAE will host in the same year, such as SIBOS 2029 annual conference which is organised by the Society for Worldwide Interbank Financial Telecommunication (Swift), is a testament to  global confidence in UAE’s leading position and its vital role in leading initiatives to develop the financial and banking sector.

The UAE is also the first and only country in the Middle East and Africa region to be selected by Swift to host SIBOS Conference and Exhibition, as Dubai had previously hosted the conference in 2013. Sibos is being held in several global financial hubs such as Singapore, Geneva, Toronto, London, Amsterdam and Beijing.